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tv   Markets Now  FOX Business  September 21, 2012 1:00pm-3:00pm EDT

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[ male announcer ] humana. >> i'm lori rothman. people line up to get the iphone5. can it live up to the huge expectations? some expect more than 5 million iphone5's sold this weekend alone and 10 million for the fourth quarter. will the trading glitch that cost knight capital more than $400 million cost the ceo his job? crashly will be here in moments with exclusive information. it's back out to network's energy capital, that, of course, is houston, texas, where my partner in crime, melissa francis, is tearing up the town. melissa: it's day two at the george r. brown convention center in downtown houston. take a look at the beautiful
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view of the city behind us, it's another gorgeous day. the city of houston is booming. in some industries like oil and gas and the medical industry, they exceeded the number of jobs before the recession and revenue. we want to find out what's in the secret sauce. coming up, jack reiders the managing partner at northern mutual who manages money for the wealthiest residents. what advise he givings them and what they do with their money because they have a lot of it. back to you. lori: thank you. sometime for stocks, 15 minutes since the last update. nicole, stocks coming off earlier highs. what's the news there? >> interesting year to look at the markets, it's quadruple, office operations, and such, and going into closing, they see volatility or heavy volume; however, that being said, it's a winning week to close here and now, with the dow up 27 points,
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gain of one quarter of 1%. thinged helped along by hopes and good news as well as apple moving to new highs. let's look at apple. as i mention m especially -- as i mentioned, the iphone 5 in stores, you can get the thing. outside the 5th avenue store in new york city, you see the stock now up $6, new all time highs for apple today. also, a look at research in motion, the blackberry maker on the same day heerk and they have been under pressure because the blackberry experienced some delays and outages and such in yiewch and people in africa could not access e-mail for some time, up to three hours, and so the ceo is apologizing. not a good day for him. back to you. lori: nicole, thanks for that. it's been a volatile week for crude oil, and now crude's rebounding from a four session losing streak.
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phil flynn is in the pits at the cme. phil, what's moving the markets today? >> oil traders love bailouts. that's the story today. early this morning, of course, when we got word, spain may have agreed to terms to take a bailout from europe. the euro stouterred -- started to come back as well as oil. it doesn't matter what opec does, as they pump oil, prices go up, and there was a rebound in the market as well. it's seasonal now. we hit the market hard, $10 in a row, gasoline demand going up a libel, oil runs down, but demands for crude in the next couple weeks should be strong. that could be another reason we see a bounce up off the lows. lori: it's a bailout world. >> it is, and natural gas, endless summer, too, look at natural gas. everybody thought it was a bearish number, we'd be down, but to heck with that, back up today. why? because summer 50es going on.
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they thought it was going to get cold. keep the jackets in the closet. it's going to be warmer than normal. another blast of summer, another blast of air-conditioning demand. keeping that market high despite the fact we're expecting a big influx of natural gas from places like north dakota pretty soon. lori: all right. with his eye on all things commodities and interest rates driven, phil flynn of price futures group. have a great weekend. >> thank you. lori: members of the 112th congress going to their home districts to campaign for the election, but upon their return, the fiscal cliff is top on the agenda. peter barnes has the latest. congressmen already leaving town? >> oh, yeah, we got the standard jailbreak video for you here, lori. house members going off to re-election for the next seven weeks, and senate working today and possibly over the weekend to approve a continuing resolution to keep the government funding and operating for six months,
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and then they leave. lots of unfinished business to get to, maybe, after the lame duck session, and avoiding the fiscal cliff is the big one, and both parties want to avoid a trail dollars in spending cuts over ten years and sequesteration, and the agenda of the farm bill, postal system, and house republicans today rejecting a call from democrats to stay in town to keep working on all of this. a call democrats hope to turn into a campaign issue. republicans saying they have sent plenty of legislation to the democratically controlled senate. >> this is simply irresponsible. republicans ought to come back and finish their work, not cut and run and walk away from the american people. [applause] shame on them. >> instead of them having this demonstration on the house steps, maybe they should have had it on the senate steps.
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>> house democrats say this is the earliest adjournment in an election year for the house in 50 years. lori? lori: that's interesting. so you almost can't chalk it up to the usual campaigning going on this time of year or you do? it seems top accepted in most corners. >> yes, you can chalk it up to that. lori: yeah, i guess enough said; right? >> yeah. lori: i attempted to stretch you. >> okay. lori: charlie is fidgeting, are you ready? >> it's not my fault. the microphone was on wrong. lori: the near death experience of knight capital could spell the end of the ceo that cobbled together the bailout package that saved the firm, but here's charlie. >> after he blew it up, he handled with well. tom joist, ceo of knight, he is
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in contract negotiations with the board over whether he will extend his contract into the following year. what we know is that his current deal ends -- excuse me -- ends in december. the question is will they give him another deal? i'll tell you, there's a lot of doubters out there, the board is clearly waiting the role in the trading debackble -- debacle that nearly blew up the firm. did tom joyce, a managing ceo, have controls on certain trading -- on their trading systems which they obviously didn't, how much of that is his responsibility? that's what the board is weighing right now. another thing they weigh is an fcc investigation into the mess. you know, i don't think, you know, now throw someone out of the business, you know, for a screw up, but clearly, the fcc's concerned about whether knight had the right controls in place. there's a specific fcc rule that says you must have controls over sort of computerized trading
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systems that you use, and that's what got him in trouble here. it was an error in trade. it was -- cost the firm hundreds of millions of dollars and basically bankrupted the firm before they got the capital infusion. that's where we are now. i'm not saying he's going to leave. there is, clearly, more than a theoretical possibility they don't extend the contract and tom joyce is out. a lot has to play out from what i understand. the board is weighing his role. there's an outside consulting firm, fcc investigation, and there's clearly a debate at the firm as to whether he should stay or not. we should point out people put money into knight capital, you know, they had a fairly large bailout package. that's where the price is now. it's an underwater stock, by the way, and people put money on the condition tom joyce stays. they think him a decent ceo, but there's angry investors out there. in otherin order to recapitalize
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form, investors were crushed. they did a deluded, converted deal, and people wonder whether he should have sold is outright? would investors have done better? could they have gotten more than the current price, less than $3 a share. it's an interesting situation, it's dicey, but what we do at the fox business network, is they are negotiates the contract. lori: it's tough to know if tom joyce did anything specifically wrong; right? how could it have been avoided? >> well, look, look at john corzine. did he do anything specifically wrong? corzine ran a firm, which at the very least, did not have controls in place where you wouldn't dip into customer funds when you have a crisis which was mf global. they pulled lines of credit, and every wall street firm depends on that as the life blood to
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keep operations going, and because he was not a good enough manager, that's a problem. that's something that the regulators care about, and they care about -- remember, this was an error in trade. why didn't he have the trip wires that prevented an error in trade? this went on not just for 30 seconds, but for, like, a half hour taking the new york stock exchange to alert knight capitol that you have a prop. even when they alerted them, they still couldn't get through. they were like, it's not this desk, it's that desk. it's a messy problem, and, yes, the ceo of every company is not everywhere. can you make a case that the ceo did not do enough in terms of, you know, risk management and compliance systems, the plumbing that needs to be in place to prevent this or at least make, you know, lessen the impact. rather than a half hour, going on for five minutes. lori: did he do enough? that's the question. >> that's what is holding up the
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contract. lori: thank you. people lining up to buy the new iphone 5, do you have yours? >> i'm a blackberry guy. lori: investors buying shares of apple pushing it to over $700 a share. is if living up to expectations? live in the 24 hour store here in new york city next. as we go to break, check how metals are doing today. ♪ [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep,
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lori: nicole is live on the floor of the new york stock exchange. big news, raising dividends? >> that's right. a look at the texas instruments and dow component, mcdonalds. see how they are fairing today, right now, but when you talk about the two of them, mcdonalds raised quarterly dividend 10%, up seven cents to 77 cents a share. there's a look at it right now, up half a percent. what's interesting about mcdonalds, 1976, anybody remember? that was the first time they instituted a dividends, and they raised it every single year since 1-9d -- 1976, talk about shareholders liking that; right? texas instrumented raised theirs to 21 crepts a share, costing $182 million more per year. there's a look at texas
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instruments for the chart there, up 1%. it's building shareholder value, back to you. lori: companies know with interest rates and record lows, they want yield. watch company after company raise dividends because, again, appeasing investors. there's a guest on later this hour talking about dividend plays. that'll be an interesting conversation for sure. thank you so much. see you in 15. the wait is over for apple fans around the world as the new iphone5 hit store shelfs. we have reactions. it looks civilized, robert. >> it is, but there's a couple lines, and we got, you know, a couple hundred folks in line checking them out by the dozens downstairs. i was in, and it's a frenzy. some here a week, some overnight, and 500 people in line when they opened the door, and normally it's a 24/7 operation, but we have dr. mark
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and his wife, ann, and dr. mark, you waited in line. >> i just knew the crowds would be like that here so at five o'clock in the morning, i went to the verizon store at 109th and broadway, and i was number two in line. the number one guy said i'm not a techy or geek, but i just wanted it. by the time the doored opened at 8. there were just 25 people. there's the five, there's the four. look. it's taller, it's thinner. it's need. i didn't get it for me because i have a 4s which is wonderful, but my wife had a 4. >> ann, have you played with it much? mark is coveting this. >> i'm going to love it. i hate to admit it, but i'm addicted to the iphone, and i can't wait to try it. >> thank you very much, guys, and analysts say as many as 8 million this weekend alone, double what the iphone 4s sold a year ago. you can see the stock at a
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record high, and if they do hit the numbers, stories there, the wall street journal reporting sprint stores could run out soon. if you want to beat the lines, go to the carrier if they have the inventory. that could slow sales curling to analysts i spoke with. >> any word on whether or not apple's going to boost inventory of the 5? how close? >> well, no word yet as to whether or not they'll run out or when, you know, apple's tight lipped and tightly guards that information, but we're certainly keeping a watch on it. they are not discouraging anyone from standing in line, but -- would they? lori: especially with the guests there, the frenzies, it's understandable. >> if you reallimented one, there's folks who sell them to you. >> that's a great story too. the old phones are still great and useful and fast, not 4g, obviously. >> absolutely.
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lori: check in again this afternoon. thank you very very much. the fiscal cliff approaching. will your dividends take a plunge? see how the dollar is fairing today. the dollar's a little bit weaker today. the euro climbing back to a 130 level. we'll be rights back. [ engine revving ]
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but feel alive. the new c class is no exception. it's a mercedes-benz through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. so let's talk about coverage. based on this chart, who would you choose ? wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verizon. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined.
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>> 23 minutes past the hour, this is your fox news minute. it has been a deadly day in pakistan. at least 17 people have been killed, and more than 160 injured in clashes between police and people protesting an anti-muslim film made in the u.s.. the government declaredded today a national holiday to encourage peaceful demonstrations. the corruption trial against former detroit mayor is underway, and a prosecutor says phil patrick conspire with his father to turn city hall into bribes. they say the case is a scam. the space shuttle it on a
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sightseeing tour of california. the shuttle due to fly over landmarks like the state capitol and the golden gate bridge before landing in los angeles where its final home is a science museum. those are your news headlines on the fox business network. now we head back to lori. lori: many thanks. so nostalgic, that space shuttle. talking dividend stocks. investors face a major tax hike if we fall over the cliff. if congress does nothing, the dividend tax rates jump from 15% to 39.6%. will that be the death of devra davis -- dividend income? you say no begin the rate of the increase of the dividends? >> correct. thank you for having me, lori. i don't think we're going to see any problem with dividends at all. one, there's no historical
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precedent that shows that stocks under perform, especially dividend paying stocks underpimple in higher tax environments, but the other important reason is that for income investors, there's really nowhere else to put the money. right now, you know, bond rates are so low, and if you want to go into corporate, the important thing to remember about bonds are that bonds will actually destroy your buying power over the next several year, and what i mean, as inflation goes higher, you receive the same amount of income from a bond year after year. it's like working and never getting a raise whereas you invest in dividend paying companies, one that raises dividends, you get a raise, and we keep up with inflation, out pacing it, and increasing buying power. lori: to the point there, what about this theory that companies increase dividends faster to prepare investors and appease them ahead of the possible tax increase. again, you know, feeding into
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your point. >> i think that's valid. you are seeing a little bit higher boost this year to take advantage of the lower tax prates in case they go up next year. for the companies with the track record, and that's what we look for, dividend raisers, raising it year after year, 10, 20 #, 30, 40 year track records, it's not going to move the needle that much. lori: give us some examples. you're in favor of mlps, and tax defer. tell me about that play. >> sure, master limited partnerships or mlps are # companies that are usually energy companies, and they are partnerships that most of that income or dividend income is tax deferred. i want to caution investors if you are not familiar with mlps, talk to the tax adviser first because there's consequences to be aware of. one mlp i like is brookfield infrastructure partners, bip, the symbol.
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they are not an energy play, but global structure play. they have businesses all overred world, railroads in australia, toll roads in chili transition lines in the americas. it's a neat infrastructure company that's diversified, a 4.3% yield. most of that is tax deferred, and they raise the dividend 14% annually over the last five years. lori: okay. we appreciate that. what kind of homework do you do on specific companies? is there a way to know when they initiate a raise on a dividend? >> well, what i look for, a, that track record i mentioned. i want to see a company with at least five or ten years of raising the dividend and can also continue to. i look at the payout ratio, the percentage of the net income or cash flow they pay out. you divide net income by the dividends paid, and if i get to 75% or less, i know generally
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speaking the dividend is safe. there's a little bit of wiggle room even if earnings are down a little bit that they continue to pay the dividend and raise it. lori: that makes perfect sense. thank you. >> thanks for manager me. lori: small business facing cash flow problems. that's not their only challenges. job growth facing small business. first, the winners and losers on the s&p500. you've got -- oh, my eyes are failing me, metro pcs. i need my glasses checked. expedia up 4.5%. back with more after this. before copd...
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tdd#: 1-800-345-2550 will help you get started today. lori: half past. let's check in with nicole on the floor of the new york stock exchange to see what she's watching. getting a hint you have some retailers. >> that's right. we're looking at my bag of tricks over here. let's look at some retailers looking coach and michael kors as they're make news. michael kors, second quarter guidance and full-year guidance looking good, raising the numbers. you can see the stock right now is up 5.4% for michael kors. that is doing exceptionally well. we're looking at coach. coach has been doing so well but they're pulling back. they're launching a broad based promotion in some of their department stores, over the weekend some of the department stores. a lot of retailers, especially luxury retailers are to the downside. coach is down 4%. tiffany's macy's nordstrom,
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burberry are to the downside. there are retailers doing well but those are ones coming under pressure but great day for kors. year-to-date is up 103%. lori: ask you to go shopping just hearing names. one day. thank you. all right. a staggering statistic for you 85% of small business owners believe the economy could experience another downturn. what is behind the gloom hanging over small businesses? jerome buyers, head of citibank small business exclusively with this reading on small business. welcome, jerome. we were talking about small business how they were hurt by the financial crisis years ago. what is new, what is striking about your latest survey? >> well, lori, just a couple of things. small businesses continue to worry about improving sales, managing cash flow and
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really they worry like everyone else how to improve consumer confidence. so the other interesting fact --. lori: carry on. i apologize for interrupting. >> the other interesting fact is, small businesses are doing the things they need to do to continue to reinvent themselves and find ways to keep their businesses going. lori: what i was going to follow up with you, jerome was that statistic. 78% of small business according to the citi survey have given cash extensions to customers and clients. that suggests, you touched on it, a significant cash crunch. can you tell me more, we know consumer spending is under pressure. tell me how it is hurting at the small business level. >> sure. our economy has not improved yet. as we talk about cash flow, the thing that you want is predictability. when consumers are hurting, businesses need to do what they need to do in their communities to help their communities stay afloat. you know, i think the approach that small business owners are taking is rather
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herroic, right? they're a big part of the american economy and they know they have to do what they have to do to stay afloat and help their customers. lori: now on a brighter note, jerome, slightly better business conditions reported this year versus a year ago. is it meaningful improvement? how much more room, time do you think what needs to be done to get to full confidence? >> i would say the improvement year-over-year is meaningful and it's driven by about 42% of our small business owners actually think they're going to meet their sales plan. what it is going to take to get more improvement is continued confidence or certainty around consumer confidence. lori: okay. so we keep saying that word confidence and uncertainty. these are our favorite buzzwords. what does that mean politically? small business community, i'm throwing politics at you, leaning toward romney or obama? >> i do use the word certainty. not sure where the community is leaning to.
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small businesses are looking for after the election, whomever is in there what they're looking for, okay, now we have a certain path. there is some uneasiness quarter over quarter from small best owners and it is really looking for that, what is going to be the outcome of the election. lori: give me some specifics. easier credit availability? you know, lighter restrictions in regulations? >> you know, the top three things they're looking for? truthfully is, hey, how can i grow my own sales? and what is it going to take to help us get confidence back up in spending? not really political as much as it is --. lori: i'm just trying to get some details here. >> yeah. i think it is, it's really, what, understanding what is it going to take to get the confidence up. this is, the second time we've done this survey this year and access to capital has not made the top five concerns for small business
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lenders. lori: okay. okay. we're out of time, jerome. thank you for joining us and sharing the survey findings. >> thank you, lori. lori: thanks. how about gambling on the rise literally? coming up jeff flock shows a new slot machine before it hits any casino floor. up next, melissa francis joins me from downtown houston, america's energy capital. find out where some of the big money is flowing. let's look at fixed income and check the benchmark 10-year and 30-year treasurys. 10-year is down one basis point. little changed. stock market a little bit higher. the 30-year treasury is also flat, 2.94%. back with more after this
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>> i'm cheryl casone with your fox miss brief. the obesity drug may not get approval in europe. farm sight call company said european agency committee wouldn't clear the weight-loss drug. back in july they won approval from the u.s. food and drug administration. universal music group won approval from e.u. anti-trust regulators to buy emi muse be group. vivendi owned universal promised to sell some of its most valuable labels. >> wal-mart gearing up for
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the busiest time of the year. they plan to hire 50,000 seasonal workers for the holiday rush. retailers add staffs leading up to the big holiday shopping season. that's the latest from the fox business network, giving you the power to prosper.
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lori: all right. let's see what melissa up to. houston is known as the energy capital there are plenty other industry that play key roles in the city's thriving economy. back to melissa francis in houston. what sectors are growing the most, the biggest, the fastest, the biggests, the brightest? melissa: that's what we'll find out. we're here at the george brown convention center in downtown houston. it is a gorgeous day right now. joining me the managing partner at northwestern mutual. thanks so much for joining us. we were talking in the break. you know everyone in this town. you know everyone on the
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show yesterday, coming on "money" tonight. you know all the big players. what makes them so great, what makes houston so great? >> thanks for asking. i'm so excited to be here. we from houston are thankful to you guys coming here. on one hand we sort of believe we deserve it and on the other hand humbling looking at it and say thanks for coming. >> you're doing things right. >> we like to think so but we're thankful somebody else is noticing. houston, texas, is the most awesome place. it is for a lot of reason. our economy is robust. the energy sector is powerful. we have many other sectors that are doing well. energy is about half of it. melissa: right. >> but health care, our ship channel. melissa: huge port. that drives a ton of business in town. >> with the expansion of the panama canal down south that will grow that an elevate that even more. we look forward to that as the economy unfolds in the future to be a valuable port. our financial services industry is outstanding.
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health care, our medical center here is fantastic, innovative, research driven. i would say the greatest thing about houston is the people. melissa: yeah. >> the people of houston are, different. they're innovative. they're creative. they're entrepreneural. melissa: they are. in fact you said to me in the commercial break what is important about houston and texas is the rest of the country could learn here you free people up to win. >> yes. melissa: what does that mean? >> there is this thought to get out of people's way allow them a free enterprise system in the greatest country on the planet an run, run to win and run to win in a way that says to the rest of the world, if you just don't regulate us too much, if you just love to give us the shot at the win in this level playing field, go get em, you have to believe that people such as houstonites and texans and people from around this great country will win at the end of the day. melissa: i talked to 20 five
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people in the past two days said almost exactly the same thing. these are business leaders across the entire city said that. you have to free people up to win. you are what to achieve is what rich kinder said yesterday. people ask me sometimes, when people say stuff like that, is there a loser in all that? is there a zero-sum game? is there a class of people in the city that is left behind. how do you answer that? >> oh, i love that question and i think it's a question often evaded -- debated around our country. if you look at that class of people would see that group, where they are right now. this thought that, that we have the haves and have-nots. just in houston and in texas is really not the case. whether that is on our education system, our health care civil. we have issues. we're working really hard on it but at the end of the day every boat elevates when the tide rises. melissa: you see that in the data and stats around here. you have such a low unemployment rate. you have replaced all the jobs lost in the recession.
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home values gone up 16 out of the past 17 years. you have industry like energy and shipping and import industries, export industries, pardon me, where the number of jobs exceeds before the recession. i wish we had more time. jeff, thanks for joining us. we appreciate it. >> you're welcome. melissa: back to you guys. lori: melissa, thanks very much. curious about the incentives houston offers businesses. i know you will talk to a lot people and continue to. we'll watch all that stuff. in the meantime -- are you still there, melissa? melissa: i am, of course. lori: i had to catch up with you and get an update on my boots? melissa: yeah. i was thinking today i was going to get you blue boots or maybe lime green boots. i think lime green would be good, definitely. oh, my gosh, there it is. lori: is that what you were looking at for me? melissa: i was thinking like a little lilly boot. that is like right in the right vain. jeff is still next to me admiring those because he
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has boots on himself. i don't want to let you go without promoting what i have coming up tonight on "money" at 5:00 p.m.. lori: go for it. melissa: we'll be talking sports. we have the guys who run the rockets and the guys who run the astros. that will be fun talking sports. we have the chairman and ceo of land dry's. that will be a lot of fun. this is a booming business across the country. so many restaurant names that you know and he is based here in houston. we'll ask him why. we have the founder of hennessey performance which are very cool cars. i will be driving one of them, doing doughnuts, getting tickets. you know about my driving it is not the best. lori: getting tickets. melissa: people don't know that here. lori: that was a warning. head's up, melissa is taking to the streets of houston. be wary. melissa: 5:00 p.m., "money". check it out. lori: we sure will. melissa: have a great weekend. lori: you too. let's go to peter barnes. i understand breaking news regarding romney and his tax
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returns. what is the latest? we have details here? >> yes. governor romney is posting his 2011 tax returns at 3:00 today and let's give you the highlights here. according to the, a release from the campaign, governor romney earned $13.7 million in 2011. he paid $1.9 million in taxes. he donated $4 million to charity in 2011. which was, 30% of their income. the romneys effective tax rate was 14.1%. the romneys claimed a deduction of $2.25 million for their charitable contributions according to this release from the campaign. and it goes on to say, that the romneys generous charitable donations in 2011 would have significantly reduced their tax obligations for the year but they minimized them actually to make sure the governor held to his promise that he paid at least 13% of the his income taxes in each year of
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the last 10 years. they're also releasing some additional information about taxes for the past 20 years. 1990 to 2009. and the campaign saying that in each of those years the romneys owed both state and federal taxes and over entire 20 year period they average effective federal tax rate they paid was 20.2%, effective personal tax rate was 13.7. and they gave 13.45% of their charity on average of their adjusted gross income over that 20-year period. and lori, of course what the governor paid and his tax rate has been a major issue in the campaign. lori: right, following up with that, peter. you're looking at numbers as you're reporting them to us, very critical the left was for not releasing a lot of this information. is there anything that you can glean at this point why
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he wouldn't have wanted to share with us these numbers sooner? >> well, the campaign had announced earlier this year because of governor romney's various complicated investments and they have three trusts here that are involved in all of this, that the governor would file for a standard extension for filing his tax returns beyond april 15th. we see that among wealthier taxpayers regularly. they often do that. they had released some preliminary numbers back earlier this year but these are the final numbers and so, he is fulfilling the promise and his legal obligation here of course. lori: all right. so we do pretty much know everything when it comes, well as much as we need to know as it has to do with the tax return issue? >> yeah. we're going to see all of the documents posted at 3:00. we'll be combing through those for more information. these are just the highlights the campaign just released in the last few minutes here. lori: thanks so much for sifting through them for us and bringing them to us here as you're getting them.
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peter, we'll check back with you this afternoon. that's for sure. let's update you on the stock market. the dow is holding up 27 points. back to nicole at the stock exchange. you're following analyst ratings. >> we do have up arrows across the board for major market averages. some internet companies are doing well also. that is one of the reasons at least because cantor fitzgerald actually initiated coverage on the names in a very positive way starting with buy ratings for priceline, expedia, google and facebook. there they are. all with up arrows. expedia feeling as far as percentage terms for 4 1/2%. hitting a new high. they are all doing well. google also a new high. back to you. lori: nicole, thank you. up next the newest in gaming and it is a ride you won't want to miss. as we head to break let's look at more of the day's winners and losers on wall street. [ male announcer ] at scottrade,
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lori: game being companies gambling on a new concept, a slot machine essentially the same as amusement park ride. jeff flock has more for us. jeff? >> you are looking at this, lori, for the very first time anywhere. it is spider-man ride. take a look at this chair moving. you sit in the chair and it actually moves. i am privileged to be joined by the president of wms industry introducing this here for the first time on fox business network. thanks for joining us. this is big for you. >> it is. we'll be debut this new game at the global gaming exposition in las vegas the
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big industry trade show. >> want to look at your stock. this one has been beaten down last year. you're head of interactive. that is tremendous growth opportunity, unrealized yet, but right now the technology on slot machines, you're taking it to another level. >> we really are. we found the new form factors do extremely well as players look for something new and creative to play for the first time. >> something else, lori, you have never seen before. this is slot machine over here. bob, if you can get all the way around. this is "wizard of oz" slot emergency. what makes this different? >> this is incredibly brand new type of configuration for a slot machine. it allows our game developers to do completely not seen before theme content. this happens to be our "wizard of oz" franchise which is successful brand for wms. we have two executions, haunted forest game and emerald city game. >> thee will be introduced next month at a big game show. seen for the first time here on fox business network.
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lori, i don't know if you're a gambler but fur this changes the game on this you're not sitting there pulling a lever anymore. it is a gamble but, it might be a stock to watch. lori: whose idea was it that you had to have a moving chair while you're pulling the lever? i'm usually fixated on the dials. >> well i know --. lori: you know what i'm saying? >> look at it moving right now. lori: i don't need -- >> that is wild idea. where did you come up with that? >> this is proven technology in theme parks where they synchronize motion chair to the video. if you've been to universal studios where they have this type of technology, and disney, we thought why not try it on the slot machine and bring it to synchronized bonus round and on a gaming device. >> if you want to, you can stop the motion. maybe you've had a little too much to drink before you started playing. lori: i have to run, i'm sorry, my friend. out of time. too bad. have fun. >> thanks, lori, coming up
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tracy and ashley on their with to let you know why the recent stimulus is good news for commercial real estate. stocks making headlines and should you add them to your portfolio. here on fox business
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with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers
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into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. tracy: good afternoon, i'm tracy byrnes. ashley: and i'm ashley webster. it is iphone friday. apple hits a new record $705 a share as iphone 5 debuts but many stores are reportedly selling out already so can apple keep up with demand. tracy: we have breaking news on gop candidate mitt romney's tax returns. the campaign says he paid effective rate over 14% last year. we'll have details. ashley: regulation nation. one silicon valley ceo says sec bureaucracy is killing american innovation.
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tracy: top of the hour. time for stocks. as we do every 15 minutes. we have to head down to nicole petallides on the floor of the new york stock exchange. you have to talk about apple today, right? >> that's right, tracy and ashley. it is a winning day on wall street. but for the apple shareholders or folks who love tech or even people who hold the major averages you're a winner today because apple is helping all of those things move higher. apple hit another all-time high today on releasing long-awaited iphone 5. you can go into the store and actually purchase the item for the first time today. i also wanted to get into the guts of the apple iphone, right? if you're not really wanting to buy the apple shares, maybe you could buy some of the chips and things and all kinds of things that go on the inside of the great machine there. when you look at names such as skyworks solution, cirrus logic, micron tech. they actually make components that go into the
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iphone 5. then what we did we put together a comp chart done by our master, charlie brady, who is so great at doing this, one of our senior editors, he put together a long-term chart comparing the two. apple is the one on top in yellow. underneath the blue is compilation of those four names i mentioned. they're underperforming apple because apple has so many products but you can see both have done well over time. back to you. tracy: look at you, nicole petallides. thank you very much. we're going to have more on apple from the and the new iphone from robert gray. he is at the big apple store in new york city. we'll have that in a few minutes. >> there you go. tracy: we have breaking news on gop presidential candidate mitt romney's tax returns. peter barnes has the latest on the developing story from washington. hey, peter. >> hey, tracy, ashley. more on this. let's go over the big numbers. the governor will be posting his tax returns to his website at 3:00 here but the
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campaign has released the highlights to us here, just in the last 15 minutes or so. the romneys earned, according to the campaign, $13.7 million in 2011. most of it investment income. no surprise there. they paid $1.9 million in taxes for 2011. so the effective tax rate was 14.1%. no surprise here. this was mostly, investment income which is taxed at lower rates than earned income as tracy, our resident accountant will tell you. and the romneys also announcing here that they donated $4 million to charity, 30% of their income. they also, to, because this is such a big election year issue, what the romneys are paying, their tax rate, et cetera, they also are releasing a notarized letter from their accountants, pricewaterhousecoopers, on
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their tax rates from 1990 to 2009. 20 year period here. and they say, according to this letter that they paid a 20.2% tax rate on average over that 20-year period. the lowest effective rate during that period was 13.6%. but they also donated 13.4% of the their income to charity. so total taxes and charitable deductions, 38.5%. now the romneys had filed for an extension on their taxes for 2011. that is common among wealthy people, particularly when the returns are complicated. there are not just their regular 1040 but they also have three trusts they earn income for. so they, the deadline for, legal deadline for that is october 15th. and of course this discussion did generate a lot of talk about men mum tax rates that people, wealthy people should pay. so-called "buffett rule", that, warren buffett's
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secretary should not pay taxes at a lower rate net-net, than her billionaire boss as you recall. this likely to generate, gin up that discussion once again. ashley, and tracy. tracy: peter barnes. that is good stuff. that is the explanation was. it was on extension. that's why we didn't see it sooner. his effective rate higher than what most americans pay by the time we get through our deductions and credits. his effective rate is higher. 30% to charity, i don't think most, there is lot of people out there can say they do that. ashley: no. but he can afford i. i guess that's what we should point out. but he doesn't have to pay it. tracy: he could keep it. ashley: he can indeed. peter barnes thank you. our next guest says investors will be spooked next month by quote, gail force windage of electioneering politicians. we have the editor-in-chief of fidelity investor and fund works. jim, i love that expression. are you expecting a
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significant pullback before the election next month perhaps? >> we certainly will see a lot of volatility. whether that translates into a pullback, time will tell. october is past election years have not been all that great in the market. going back to 1952 showing on average negative return. that said there is so much negativity globally, let alone domestically i think this market will continue to be able to manage away to climb the walls of worry. ashley: china, so much is said about china. no doubt the economic data shows it is slowing down. have you reduced your exposure to that part of the world? >> we are invested in a tactical manager who is effective short china, long mexico, studying the labor force patterns are beginning to shift, china losing its edge in cheap labor and also the high cost of transporting goods goods and services across the globe, tend to favor countries like mexico, where labor, especially manufacturing labor remains cheap but very small position inside our
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portfolio. we're basically builders of core diversified, effectively large cap, multiflags funds. that's where we see significant gain opportunity, not just short term but the next three, five, 10 years. ashley: we're putting some of the fund on the screen. is that the best way to play this? if someone is interesting in getting some exposure to mexico, what is the best way? >> if you're a tactical trader looking for a nice speculative move you can look at proshares short china, eta and corollary the long etf in mexico. ishares mexico etf. i wouldn't have those be more than 2 1/2% of my total portfolio position but a tactical way to make a trade in that space. >> you like tech and maybe some health care and financials thrown in. what's your thinking there? >> large cap growth stocks, most of those companies have remarkable cash in their coffers. great pipelines of business when the underconfidence in
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the global state, basically corrects itself. that may be months. it may be years away. they're certainly well-positioned to weather downturns and well-positioned to gain market share, especially in technology and health care which of course are not domestic plays but not just international plays but emerging market plays as well. and they tend to increasingly correlate technology and health care. so you're getting great growth bang for a more defensive buck. ashley: exactly. great stuff. jim lowell, thank you so much for joining us. >> thank you. tracy: we're coming up, apple's iphone 5 selling like hotcakes despite grumblings about its new map. i got the upgrade yesterday. i don't think the maps are so bad. we're live at a apple store in new york city next. ashley: they have to be grum blink about something. as we do every time at this day, look at if oil is slipping. up to $92 a barrel.
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tracy: apple fans around the globe rejoicing. angels are singing. the latest iphone hits the store shelves today. robert gray outside an apple store in midtown manhattan. robert, are people happy or are they finding something to complain about? >> both, tracy. you know what? the only thing that apple fans like to do more and
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detractors and haters than standing in line getting new gear talking about it online or in person. we're talking a lot of people in person. we are talking with the founder of banjo. basically one-stop shopping to find out what is going on anywhere, at any time in social media. you guys, your team is scouring the web. you get data feeds from twitter, from facebook. what has been some of the biggest gripes out there? we'll start with the negative here, that people are tweeting about globally? >> a lot of gripes out there we're seeing globally about the maps, iphone new maps and not using google maps. people are used to google maps. they're frustrated with that. there is lot more sentiment positive about the way the phone looks, about the way the phone handles, about new features of the phone, et cetera. >> your point from different social networks, are you finding different geographies are tweeting differently, finding different things they like better than others? is there one particular positive standing out from the phone people like, one feature? >> well, we're here in new
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york today. when we looked on banjo we go in san francisco and seeing people there, obviously they're getting phones a little later than people here this morning. so there is a little bit of a lag. people here have had their phone for hours. they're on it and using it and giving more feedback. people on west coast looking at people on east coast what they're saying about it and feeding off of that. >> we were able to go, you went into melbourne, florida, talking to someone on banjo in palo alto in line, talk to us about that exchange briefly. >> we were here in new york and wanted to see what people on west coast were thinking of, found some within on banjo we don't know. what do you think of the new iphone he bought in the palo alto store. we said why. he said because it looks like a stealth bomber. >> jamie, thanks very much. that is overview what is happening online in the social sphere. back to you. ashley: such a guy thing. >> people don't know how to work the maps yet.
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you only had the phone five minutes. give it a break. ashley: as robert's guest said you're so used to google maps. anything new. come on. because of the up grewing i guaranty they will improve it. tracy: you're absolutely right. you made a great point, australia had it first. ashley: so far ahead, australia. tracy: damn aussies. ashley: like monday in australia. as we do every 15 minutes, let's check the markets. nicole petallides on floor of the new york stock exchange. >> we covered applely this hour. want to look at oracle, a name on the move as first-quarter earnings jumped and climbed 11 percent. that is good news for them. their revenues and margins have improved as well. the stock itself is up 1.1% right now at 3263. and, what we are seeing here is that bernstein, actually raise oracle's price target to $35, up from $33. the rating is a market perform. so that is not a buy.
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that is not outperform. that is market perform. ubs raised them to $37 from $36. they have a buy rating though. that is certainly one to watch. back to you. ashley: nicole petallides, our very own oracle of the market. tracy: coming up is commercial real estate about to take off? no surprise thanks to the fed's newest stimulus. we'll talk to one of us who actually says yes. ashley: but first the dollar moving right now as we head into the weekend. take a look at some of these. currencies of the euro and pound are up against the dollar but, the looney, canadian dollar. turned higher as well. we'll be right back. [ male announcer ] this is the age of knowing what you're made of.
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>> at 20 minutes past the hour i'm laura engle with your fox news minute. syria's president bashar assad says his regime will not fall and rebel forces fighting against it will be defeated. in published remarks assad lashed out at gulf region countries accusing them of using their oil wealth to try to drive him from power. the 33,000 additional troops ordered to afghanistan by president obama nearly two years ago have all now left the country.
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defense secretary leon panetta declared the surge accomplished its mission of reducing taliban attacks but that declaration comes amid a new wave of deadly insider attacks in the country. >> m.d. anderson cancer center unveiled a 10-year, $3 billion effort to find a cure for eight specific forms of the disease. it came after a panel medical experts that researchers are close to finding cures for those types of cancers. those are the news headlines on the fox business network. back to ashley and tracy. ashley: laura, thanks very much. >> the latest round of stimulus from the federal reserve has given the commercial real estate industry a pretty big boost. with lower interest rates and question, are they going to lift the real estate investors confidence as well? what will the sector look like? john levy, president of john levy and company is here with more on this. first of all the federal reserve stimulus plan was supposed to help regular
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housing participants. it hasn't really done that you're saying it totally helped the commercial real estate market? >> i think it has helped housing and will help a little bit more because the fed is now buying more mortgage-backed securities. therefore housing finance will be cheaper. more people will qualify for houses. it will be easier for them to buy houses. it will be cheaper. now the interesting thing is, the indirect affect on real estate i think it hurts multifamily because you know that multifamily has been kind of the darling of this last four or five years. tracy: sure. >> everybody said trees go to the sky and multifamily is better every year. but with housing prices kind of bottoming and starting up, we had a six-year bottom in housing, people will start buying houses. tracy: talking about single family. >> single family. when they buy a house, they don't rent. if you said, what's the silver lining? the silver line something single family looks like it is starting to come up. i think multifamily hit the top. in the next year or two
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we'll look back and say --. tracy: we were starting to see equation, do i rent or do i buy? the numbers are coming out more towards you should buy. >> you should. rates are below 4%. they're giving you the money. back it up. take as much as you can. if you can borrow less than 4% for 30 years. tracy: but a matter of qualifying. people still having issues. let's talk commercial real estate though. what areas in particular are you liking right now? >> we like a couple things. we like hotels and we like hotels because they're business-related as the economy hopefully grows they can raise rents every night. well-located hotels we like. we like medical office buildings. tracy: that is really interesting. >> that is kind of interesting. you would think that bell well, republicans would say we don't like medical office buildings because, obamacare will ruin things. tracy: people will leave medicine. >> none of that. doesn't matter whether you're republican, whether you're a democrat, everybody likes medical office buildings especially on the campus of hospitals. so this isn't --.
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tracy: right. doctors don't move, basically? >> that's exactly. >> doesn't matter where you set up your office. they come to see you. >> they come to see you. doesn't matter who is elected. you can get the most right-wing republican and he will still say i like medical office buildings. tracy: talk quickly about the $700 billion in commercial mortgages set to mature next several years. what will happen to them? will they be able to refi them? >> no. tracy: no, great. >> this year $350. next year $35 billion. round numbers. 60% of those are over 100% of value. they can't be refinanced. tracy: will we see a little bit of a dip in the commercial market? >> i don't think the dip in the comercial market. most the insurance companies got rid of the cds mark-to-market. what you will have community banks. tracy: it will hurt banks. >> regional banks. you will see this a lot with smaller developers, smaller
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borrowers. i can't get a loan from my bank. tracy: hurts the little people again. >> because they're stuck. tracy: thank you, john. john levy and company. thank you, sir. ashley: coming up are american airlines pilots slowing down the airline on purpose? don't get me started on american airlines. gerri willis on the story next. tracy: here we go. first let's look at some winners and losers as we head out to break on the s&p 500.
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in taxes last year on in, of $14 million. his campaign is releasing his full 2011 return at the top of the hour. 90 minutes to go stocks gaining ground. the dow on track for its ninth winning weaken the last 11. just up slightly. oil prices rising 7%. right now on the way up at $92.67 a barrel up on the day after a huge drop off. tracy: let's check the markets as we do every 15 minutes with nicole petallides on the floor of the stock exchange. nicole: what we are seeing here, and -- >> above average volume, and moving out of the dow and we
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have seen it for a week or so. we have that witching hour everyone talks about when we have quarterly expirations. they have been running markets as well. nicole: what do you think about europe? >> in spain or at least the finance minister may be willing to knuckle under and accept sanctions for a bailout. that is just rumors but nothing concrete on the table. nicole: anything you feel good about? >> hard to say. i think it will keep going up by the end of the year but no aggressive selling since people talk about q e 3.
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nicole: good job. back to you. ashley: all right. tracy: the only good thing about the market is it was closed in 90 minutes. ashley: flyers be where. american airlines my favorite. expects to cancel 2% in october because of a dispute with its pilots. major setback for the airline which is struggling to emerge from bankruptcy. gerri willis joins us with more. gerri: as long as it is fair and balanced. tracy: americans having a heck of a time. the pilots are saying it is not our fault. and some contract with the company that they are not more cancellations and more than normal. everything is up and up. there are 300 cancellations of flights that americans are
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pulling back on the number of flights. a group called air farewatch.com and none of these majors, american or delta or u.s. air, none of them when they do a survey performed at the top of lift. a company not even based on this country and a company like jetblue, an airline consumers like. and cancellations slowdown, not sure. my expert last night, if you have one coming up check out. if you are going to a funeral, you might make other arrangements and -- ashley: is that more than normal work typical? >> cutting 2% of all flights.
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[talking over each other] >> tell me how you feel about it. [talking over each other] >> shame on american airlines. the other thing is pilots are not realizing they're hurting the economy. by doing this you talk about motels and restaurants and other places where people are going that will lose out because of a little bit of selfishness. [talking over each other] >> airlines are critical to this nation's health and that is why they are considered so important. [talking over each other] >> nobody died. everybody has their job i think. [talking over each other]
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>> is that the therapist backing? [talking over each other] >> gerri willis on the fox business network. ashley: american airlines. let's move on before i lose it. tracy: it is not a one armed bandit anymore. w m s has served the latest slot machine into a full the emerson of gaming experience. jeff flock is in chicago with more. jeff: i am not typically a gambler. >> you almost hit the big bonus. >> looking to get something you have never seen before. why is this different? >> this is the new game field and it is different because of the real-estate. we will allow a player to actually play a game with all of these in their field of vision. don't have to look a. >> not like the old slot machine where you pull something by the
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handle. >> new slot machine players love these games with fascinating brands and magical seems like the wizard of oz. the first time the handcuffs are off with boxes they have to design and they have all real-estate that what they can think of -- >> touchscreen too. no other buttons to push. >> i can show you one here. i will trigger a feature. only in the demo motive. it is a casino but randomly, all of a sudden glint the comes out and gives the player -- comes out and what is she going to do? give you an additional -- replicate a symbol and these are going to growl and give players more ways to win. >> this machine has never been seen before. it is on the market not until february of next year but before we get away this is the other new one you have got. i sit in the sea to hear. tell me what happens.
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>> as you play this game this chair is going to everest you like never before because as you trigger one of these bonuses you will see an active sequence with spider-man and the green goblin and move. and depending what you pick up you may lose -- move left or right or go forward and immerse you in this experience. >> i don't have to be drunk -- >> there is this stop motion. >> this has never been introduced before. next month in vegas. there you go. wms industries, might want to look at that stock. kind of been down on news about gaming and a big player they're coming slowly to the u.s. but this is something you have never seen. try it out. go to atlantic city.
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tracy: jeff flock getting the full experience. thank you very much. ashley: it is very important. late night -- [talking over each other] ashley: one technology ceo says government regulation is getting in the way of his ability to do business. our special guest next. tracy: we look at the ten and 30 year treasuries, 1.76%. near 30 year change as well. 2.9%. we will be right back. i'm so glad you called. thank you.
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>> fox business brief. expedia shares follow ratings upgrade. boosted the online travel company's rating this saying their recent upgrade will increase booking conversion rates. going over the fiscal cliff for investors, try a 20% drop in the market according to a scenario by analysts at city research. is congress ready to leave town? no visible progress on the fiscal cliff. it could become reality. walmart announced plans to open its first tornado in the next year-and-a-half. this after the death of the indian government agreed to allow retailers to enter the country through joint ventures. that is the latest from the fox
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business network giving you the power to prosper.
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tracy: we'll closing at $92.89 a barrel. for week it was down 6%. look at this chart. it tumbled every day but today and we have that really big drop on monday that you can see in that chart. ashley: the job act signed into law by president obama in april makes easier for small companies to grow and eventually go public about my next guest says the fcc is threatening this purpose by implementing a necessary and bureaucratic rules. joining mass is the ceo of tech shot. one provision of the job act was to pass a general solicitation
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and advertising which attacks investor capital. the ban was lifted but you are saying that the fcc is backtracking a little bit. >> regulations drive the hoops a startup has to go through to do this. the question is where do they established those who? my argument is simple. california and texas they have self certification capability. you say this is how much money you make and you are good to go. they have already said that won't be acceptable. they want something more restrictive but how restrictive? three years of tax returns? two years of w. 2s? i don't know many multimillionaires that willing to provide a start of last year's w. 2 forms. they will completely squash what looks like a great opportunity. ashley: how cumbersome were the rules? >> you were not allowed to advertise. we were locking back something in place for 80 years which i am
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understand why the sec would be concerned. ashley: their biggest concern is >> absolutely. [talking over each other] >> the other direction. we have been so concerned about fraud through fear and uncertainty that we have destroyed the ability for small start ofs to get ideal money. 90% reduction in i e os under $50 million. if your soccer team lost 10-1 you would call that destroyed. we have literally destroyed the ability for small startups to go ipo. ashley: where does it stand with where the sec is considering its options? >> they keep delaying so they were supposed to announce on july 4th and aug. 27 and aug. 28 at the end of this month and pushing it to august 5th so we see this slow walk and accepting comments which is why i am here. i am commenting. lift the regulations.
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>> how much of an impact will that have if the regulations are those your happy with? >> this is the most important thing congress has done from a job creation perspective. we have thousands of members in our stores. hundred likely be able to use this to be able to attract capital. ashley: you call it an inflexion point and you call it that. is that critical? >> i believe it is. you of not raise capital for anyone but friends and family for the last 80 years. the ability to pull an ad out in the new york times and sam opening this amazing restaurant and tsa-year-old brilliant chefs raise the money he needs to do that. you have not been able to do that in 80 years. ashley: thank you for being here. good luck with the fight. thanks very much. tracy: can an empty chair put people in seats? clint eastwood finds out will
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his empty chair start to spark interest in his new movie? dennis kneale covers the story. dennis: i think it will. quince these would got trashed by liberals and the media for his obama bashing with the empty stool on stage at the republican convention. the audience that watched dirty harry chat up an imaginary president was larger than the one the watched mitt romney accept the republican nomination and people wonder has he lost it? may be clint was staging a crafty marketing campaign for the new film trouble at the curbs? the new film from warner brothers could top the box office this weekend boosted by interest in clinton's rambling chat three years ago -- three weeks ago. 60% of people say the full stunned makes more inclined to see the film. those of us who have like clint eastwood since his first role forty years ago in this full of dollars now are sold.
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people less familiar with the dirty harry are interested in the rubberneck look at that car accident. trouble at the curb he plays an aging baseball scout who has lost his curveball. one of the best opening weekends for any eastwood film in the past decade. in 2000 space cowboys riding $18 million opening weekend. blood work italy $7.3 million. million dollar -- $12 million or so. grand torino almost $30 million and trouble at the curbs could rake in $18 million which would make its second best opener of any quincy's would vehicle in the past decade. tracy: thank you very much. good seats this weekend. a great review. ashley: a quarter till. time for stocks as we do every 15 minutes. let's go to nicole petallides on the floor of the nyse. nicole: don't ask what i am seeing this weekend. tesla's goal most recently is to
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get folks to transition and understand electric mobility, electric cars. what they are doing is going to be expanding in ten new locations around north america where you get the whole experience of trying to work with an electric car and how it works and how to design it. bothell experience like the sony wonder store. this is a chasm lockhart and you will feel this is your car and design and drive and decorated and chicago and new york and new jersey all over. ashley: thanks very much. tracy: three big stocks in the newsweek. the buy, sell or hold? ashley: today's winners and losers. we will be right back.
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ashley: stocks up today mildly so but they are higher. the weak third quarter earnings season jeopardize the rally that has pushed the major average class to the highest levels in five years? big question. sandra smith looks at today. sandra: look what happened with norfolk 7 and the railroads this week. that is a great indicator of goods being shipped across the country. or quote setting came out and said their profits are much lower than originally predicted and stock took its biggest hit in three years and the railroad companies went down with it.
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this is the concern we are seeing a lot of companies. we also heard from fedex. results were not pretty. not only lowered full year forecast but next year forecasts as well. intel cut its forecasts citing chip sales and oracle hardware sales. and we get the earnings coming out. and these are the latest from thompson reuters. isn't the warnings make up the index of the highest since 2001. eighty-nine -- they are going to beat the widest margin between those two in the 11 years. it has been great earnings.
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it is a drop of 2.2%. going back to the financial crisis. ashley: we have been worn so we know what to expect. [talking over each other] tracy: let's talk more about companies that made headlines and what to watch for. we are joined by the senior equity strategist, glad you are with us. sandra mentioned norfolk southern blew everybody out of water a little bit. >> the deal is if it is doing that, and if you look at ups and fedex and other shippers they are doing that. corn obviously low shipments,
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norfolk southern has of problem. here is the company, gets 500 miles, very efficient. there are no goods to shift. i think norfolk southern has more room to drop. [talking over each other] >> technically doesn't good. [talking over each other] ashley: everybody names shine but we are not shipping. >> not shipping. here are some statistics to think about. fedex control the skies. they have a bigger fleet of airplanes, ups is a big ground fleet. we heard ups was bad, a big problem in europe. they are not seeing the strength. question of congress and china,
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they have a problem. from a technical aspect fedex does not look attractive. i don't feel lot to like in terms of chart fever. added different moment it is not something you want to own. [talking over each other] tracy: i ask about 90 for personal reasons because i had to buy more lebron products than i knew what to do with but they announced the buyback and stupid people like me are buying these products. what the thing? >> did you buy your kid the 350 -- >> i have my tracy: -- [talking over each other] >> a nice portion of market share. they have a five your contract at the nfl. and i think nike is a give or take. investor conference yesterday was a big snooze. i didn't see anything
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particularly cool. it is a little rich but not too bad. if you own it beleaguer and you don't. you can wait and get a better price. china is the big problem and they are to blame for a fairly lackluster earnings report. tracy: we got to do this again. jerrod levy, you have a great thank you. [talking over each other] ashley: liz claman takes us through the last hour of trading. clear channel at ceo. don't want to miss that. count down to the closing bell is next. want to try to crack it? yeah, that's the way to do it!
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the value of spending time together that's a lot of work getting that one in! let's go see the birdies. [ male announcer ] one on one, sharing what you know. let's do it grandpa. that's why humana agents will sit down with you, to listen and understand what's important to you. it's how we help you choose the right humana medicare plan for you. because when your medicare is taken care of, you can spend more time sharing your passions. wow. [ giggles ] [ male announcer ] with the people who matter most. i love you grandpa! i love you grandma! now you're a real fishman. [ male announcer ] humana. liz: i am liz claman. last hour of trading. this is count down to the

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